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TODAY'S OTHER NEWS

Rents rising across most of England and Wales

Private sector rents increased across most parts of England and Wales between February and March, according to the latest Goodlord rental index.

Monthly rents increased from February to March in six of the eight regions Goodlord monitors across England and Wales, with decreases only in the West Midlands and East Midlands.

The data from PropTech company shows wide regional variations.

According to the index, the average rent in each region stands at:

London - £1,651pcm

South East - £984pcm

South West - £902pcm

East Midlands - £820pcm

North West - £761pcm

Wales - £749pcm

West Midlands - £673pcm

North East - £645pcm

The data also shows that landlords in London had the shortest void periods, at an average of just 13 days - while the capital also had the longest fixed term tenancies, at 14 months; this was a full three months longer than in the South East, which was region with the second longest tenancies.

Void periods continue to be longest in the West Midlands, with an average of 33 days

Tenants’ average monthly incomes have increased in five of the eight regions monitored, with the most significant increase in the South East.

Tenants’ average monthly incomes declined in the North West and Wales, with no change in the West Midlands.

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    Landlords getting richer ? no just trying to cover our extra costs, it's the tenants that are being hit by the government.

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    My rents haven't gone up very much in the last twenty years and some have actually gone down.
    I wish that I could achieve the average rents quoted on here.
    Our region experienced the largest growth in house prices in the whole of the UK last year, mainly down to buyers coming over the bridge from Bristol, where it is very expensive to purchase property and where rents are almost double.
    Unfortunately, this does not have any effect on the rental sector here, except that if you are buying a property now to rent out, your yield would be much lower.

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